Scottish Power has completed a longevity swap with Abbey Life to hedge £1bn of liabilities, covering 4,000 pensioners in the Manweb section of the Electricity Supply Pension Scheme.
The swap was structured as a tri-partite insurance policy between the Electricity Pension Trustee, the Group Trustee and Abbey Life Assurance Company. It will hedge against the risk of rising costs...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here
